![Japan’s Inpex Acquires US Gulf Of Mexico Assets From Anadarko](/sites/default/files/styles/hart_news_article_image_640/public/image/2019/07/japans-inpex-acquires-us-gulf-mexico-assets-anadarko.jpg?itok=kktj5Chh)
The Anadarko Petroleum Lucius Truss Spar, located in 7,100 ft of water offshore in Keathley Canyon 875, 236 miles offshore in the Gulf of Mexico on January 2015. (Source: Robert Seale/Anadarko Petroleum Corp.)
Japanese E&P Inpex Corp. entered a deal on July 26 to purchase U.S. Gulf of Mexico (GoM) assets from soon-to-be-acquired Anadarko Petroleum Corp.
The Tokyo-based company said its U.S. subsidiary reached an agreement with Anadarko to acquire a participating interest in Keathley Canyon and Walker Ridge blocks located roughly 380 km (236 miles) off the coast of Louisiana. The terms of the transaction have not been disclosed.
According to the company press release, Inpex already has plans to drill an exploration well at an early stage in partnership with the operator, Anadarko, subject to management approvals and further evaluation work. Though, Anadarko, itself, is in the process of being acquired by rival Occidental Petroleum Corp.
The portfolio of The Woodlands, Texas-based independent oil company includes a range of global assets. However, what has largely believed key to Anadarko’s takeover is its position in the Permian’s Delaware Basin as Occidental already has agreed to divest the company’s Africa assets.
Occidental’s cash-and-stock bid for Anadarko, which including debt is for about $57 billion, has been approved by the U.S. Federal Trade Commission and is expected to close by the end of this year.
In the sale to Inpex, Anadarko is selling a 40% participating interest in Keathley Canyon blocks 921 and 965 and Walker Ridge blocks 881 and 925. As part of the agreement, Anadarko will retain operatorship with a 60% interest remaining in the blocks.
![Map Of Keathley Canyon Blocks 921/965 And Walker Ridge Blocks 881/925 In Southern US Gulf Of Mexico (Source: Inpex Corp.)](/sites/default/files/inline-images/Map%20Of%20Keathley%20Canyon%20Blocks%20921%20and%20965%20And%20Walker%20Ridge%20Blocks%20881%20and%20925%20In%20Southern%20US%20Gulf%20Of%20Mexico%20Source%20Inpex%20Corp.png)
Inpex is Japan’s largest exploration and production company. The company said it ranks as a mid-tier E&P player, just behind the world’s oil majors.
Though Inpex is currently involved in about 70 projects across more than 20 countries, the company said it considers the GoM as one of its priority exploration areas.
The assets Inpex agreed to acquire from Anadarko are located near the Lucius and Hadrian North producing oil fields, in which the company has participating interest through its subsidiary. The blocks cover an area of 93.2 sq km where the water depth ranges between about 2,150 m and 2,700 m.
Emily Patsy can be reached at epatsy@hartenergy.com.
Recommended Reading
Hydrogen Left Hanging as DOE Prolongs Contract Negotiations
2024-06-05 - Regulatory and energy experts discuss hydrogen hubs as the award negotiation process continues.
US Interior Department Releases Offshore Wind Lease Schedule
2024-04-24 - The U.S. Interior Department’s schedule includes up to a dozen lease sales through 2028 for offshore wind, compared to three for oil and gas lease sales through 2029.
National Petroleum Council: A Realistic Path to Scaling US Hydrogen
2024-05-15 - A report by the National Petroleum Council, the culmination of about 18 months of work, offered 23 recommendations to help the hydrogen industry grow through 2050.
US Hits China with Huge Tariff Hikes on Solar Cells, EVs, Batteries
2024-05-14 - The directive quadruples the tariff rate on electric vehicles from 25% to 100%, and the tariff rate for solar cells doubles to 50%.
Under Siege: Industry Cuts Emissions Despite Biden's ‘Attack’ on E&Ps
2024-05-20 - IPAA Chairman and Elevation Resources CEO Steve Pruett shared insight on industry’s concerns over regulations carried out by an “alphabet soup” of agencies from the Environmental Protection Agency to the Federal Trade Commission.